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I got a quote on an 06 LE. It has the nav and dvd entertainment, as well as technology package and some others. MSRP is $48,695. Working with CarsDirect.com. I'm a returning Nissan owner. They gave me a price of $43,683 (they said it excludes $1,500 rebate b/c Nissan does not include this on its "premier leases"). Still this is below invoice of $44,500 (roughly). The lease term is 39 months. 12,000 miles per year, although I could easily do 10,000 per. I was told a money factor of .00218 (seems a bit high to me) and a residual of 52% (does this seem low?). Anyway, with nothing up front but taxes, they gave me a monthly payment of $675. First, I have a lease calcuator that I've used for years (always accurate) that indicates with these inputs the monthly payment should be $619. Second, can I expect to find better numbers than these? This seems pretty high to me.

Hi minaldo1. If you are able to lease this truck with a selling price that is below invoice, you are getting an excellent deal. As far as this truck's lease money factor goes, its buy rate factor for a 39 month lease of any 2006 Armada is currently .00203 for consumers who pay a security deposit and qualify for its top credit tier. Its residual value is currently 52% for this term with 12,000 miles per year. Using these numbers, an MSRP of $48,695, and a selling price of $43,683, I estimate that this truck's zero down, pre-tax monthly payment should be around $611. As you can see, something is not right about the lease payment that the dealer quoted you. I doubt that you will be able to get a much lower selling price than the one that you were quoted, but as I said for some reason this price is not translating into the correct lease payment.

Car_man, thanks. Glad to see my lease calculator is in working order. I don't understand why they would tell me the best money factor I can get is .00218, when you are showing a slighlty lower one. I'm a 3 time lease Nissan customer with outstanding credit (in the 780s). And the lease payment should be about $70 per month less. That's serious money. It really bothers me that they monkey around with the numbers like this, all they do is destroy their credibility and poison the relationship. Would the residual go up much (and my monthly lease cost down) if we use 10,000 mile per year cap instead of 12,000? Also, is it true that NMAC does not offer the car rebate ($1,500)on leases? Thanks

You're welcome minaldo1. I can certainly understand why you are annoyed. I would be as well if the dealer that I was working with was trying to mark up the money factor of the car that I was interested in. Try not to take it too personally though, it's just business. Now that information on invoice prices and incentives are available on sites like Edmunds.com, dealers are putting more effort into making money on the back-ends of deals, like by marking up interest rates. If they didn't, a lot of dealers would probably have to close their doors. Now that you know what this car's money factor should be, don't let them mark it up on your deal.

I don't believe that Nissan Motor Acceptance Corp. offers 10,000 miles per year leases on Nissan division products. Yes it is true that Nissan's normal customer cash incentives are not compatible with its special lease program.

I sure can, buster6. This truck's lease program varies by trim level though. For now, I will provide you with information on the 2006 Armada LE 4WD. Let me know if you want a different model. If you were to lease this truck through Nissan Motor Acceptance Corp. right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00163 and 51%, respectively.

Hi achadha1. When you say that the Armada that you are interested in costs $40,000, do you mean that's its MSRP or selling price? Either way, I need to know both of these numbers to calculate a lease payment on this truck for you. I'd be happy to estimate what your lease payment should be on this truck if you provide me with this pricing information, as well as a detailed description of the Armada that you want. The description is necessary because its lease program varies by trim level.

I am looking at a NEW '06 Armada LE with Rear DVD and Tech Package, Micro-Filter, Floor Mats. The MSRP is $46,075.00 or thereabout. I also have a 2003 Lincoln Aviator with 38,500 miles, and Autobytel says the good trade in value for it is $20,675. My payoff is $17,748.00 so I have some equity.

All told, I offered the dealership $619.00 per month for 36 months, and they countered with $629.00 for 38 months.

I based this off of paying invoice which is $41,600 minus $2,252.00 in equity (if they give me $20,000 for mine), rolling in title and license, and with the taxes being waived. I used a rate factor of .0163. Is this the correct one to use???

They told me you either get the rebate of $2,000 or the sales tax waived, and in Texas our sales tax on cars is 6.25%.

Is $619.00 a good deal, a great deal, or not so good? I have to decide by tomorrow.

Thanks for posting your questions in this discussion, matta3. Let me begin by saying that I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Armada would be exactly the same, regardless of whether you had put $2,000 down, or had made absolutely no down payment at all. You can still trade in your Aviator when you get your Armada. Just have the dealer that you trade it in to cut you a check for the equity that you have in it rather than using it as a down payment on your lease.

Dealer invoice is a very attractive selling price for this truck, especially considering that the $2,000 customer cash that Nissan is currently providing on it is not compatible with its special lease program. Let's estimate what sort of lease payment this truck would have if you were to lease it through Nissan Motor Acceptance Corp. According to my calculations, if you were to lease a 2006 Nissan Armada LE 4WD with an MSRP of $46,075 and a selling price of $41,600 through NMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $609. So $619 a month before tax is a good deal, as long as you don't have to make a down payment to get it.

Thanks for the additional information, achadha1. OK, according to my calculations, if you were to lease a 2006 Nissan Armada LE 4WD with an MSRP of $46,500 and a selling price of $40,000 through NMAC right now for 39 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $536.

I am interested in leasing an 06 Armada SE Off Road. Can you please tell me the current money factor and residual percentage value for this truck. I am looking at 36 months and 12000 miles. Thanks for your help. Is the residual value negotiable?

You're welcome, matta3. The buy rate money factors for both the 2WD and 4WD Armada LE models are the same, but the residual values for 2WD models are 2 points lower than the residuals for 4WD models. NMAC's residual values for leases with 12,000 miles per year are 1% higher than they are for leases with 15,000 miles per year.

Here you go, mike2555. If you were to lease a 2006 Nissan Armada SE Off Road 4WD through Nissan Motor Acceptance Corp. right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00161 and 52%, respectively. Vehicles residual values are sent by the bank that you are leasing through and individual dealers do not have the ability to alter them.

HI, i was offered a blue 06 LE 4x4 with tech package w/sirius, dvd entertainment, floor and cargo mats, cargo tray and in cabin filter and splash guards. msrp is 49245, offered for 44,500 with TT&L after 2500 rebate. is this a good lease or would it be better as a sale with the 3% financing from Nissan, thanks..

Hi bourla. While Nissan is currently providing $2,500 customer cash on the 2006 Armada, this cash is not compatible with its special lease program. I wonder if the dealer that you are working with is running your lease through an independent bank because doing so with the $2,500 is better than leasing through Nissan Motor Acceptance Corp. without it. For the sake of reference, NMAC's current buy rate lease money factor and residual value for a 36 month, 15,000 mile per year lease of a 2006 Armada LE 4WD are .00161 and 52%, respectively. You can use these numbers to compute if you would be better off leasing through NMAC or using the deal that you were quoted.

I am looking to lease a 06 Armada SE OffRoad msrp is $43735. I am getting out of a vehicle that I have a lot of negative equity in. For the payment to be reasonable I need a longer lease. The dealer is trying to put me into a 63 month lease. The dealer is using $48000 as the sell price(this includes neg equity of payoff) - $2500 rebate - $1000 cash down leaving a payment of $669 per month. Is this reasonable. What should the money factor and residual be? I have very good credit and live in Oregon.

Hi, I am looking to lease a 2006 Nissan Armada LE with a list price of $48,945 and an invoice price of $44,280. I am assuming I would be a ble to get this vehicle at invoice. I have excellent credit (high 700's). I would like to put no money down. I am trying to get to a payment around $500. per month. What lease term should I target to get to this payment? If this isn't reasonable, what should I expect as a lease payment for this vehicle?

I recently (last week) leased a 2006 Murano SL equipped with Touring, Sirius and Navigation. Final selling price was $41k and monthly is $556 (before tax). Then...I found this website and, more specifically, this forum. Looks like I got a really bad deal. Did I???

I am looking to lease an Armada next however...not feeling so invigorated after this deal Please help.

Wow, sdc3, a 63 month lease :surprise:. You definitely do not want to lease this truck for that long. That is a very long time to be committed to one vehicle. A lot can change over the course of five years. You could decide that you are sick of paying an arm and a leg for gas for such a big truck, you could just plain get sick of it, your daily commute could change causing you to go way over your mileage allowance, etc... 36 to 39 month leases are usually ideal, 48 months at the longest. If you are so upside down on your current vehicle that you cannot lease an Armada for a shorter term, it would be in your best interest to wait until you are less upside down to get a new vehicle. Besides, the fact that you are so upside down on your current vehicle is going to cause you to pay way more than you should for your Armada.

It looks as though this lease may be through an independent bank. I say this because the $2,500 customer cash that Nissan is currently providing on the '06 Armada is not compatible with Nissan Motor Acceptance Corp.'s special lease program. This dealer probably had to do this so that they could use the cash to cover part of your negative equity. I can tell you want NMAC's current lease program is like for this truck. Keep in mind though that the $2,500 customer cash is not compatible with this lease program. If you were to lease an '06 Nissan Armada SE Off Road 4WD through Nissan Motor Acceptance Corp. right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00161 and 51%. Its 39 month numbers are .00163 and 50%. Its 42 month numbers are .00171 and 48%. Its 48 month numbers are .00181 and 41%. Lastly, its 60 month numbers are .00171 and 32%.

Hi milken. This truck's lease program varies depending upon what trim level you get. In order to give you an accurate idea of what the program is like for the truck that you are interested in is like, I need a more detailed description of it. Just to give you a general idea of what this truck's program is like right now, if you were to lease a 2006 Nissan Armada LE 4WD through Nissan Motor Acceptance Corp. right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00161 and 51%, respectively.